Karen Demel’s personal life
Karen Demel is the mother of Jerry Buss. we do not have any information about her early life and education. She loved to live a private life. She is inactive on social media platforms like Instagram, Facebook, and Twitter. She is famous for being the mother of an American entrepreneur and professional sports team owner. Here we will discuss her son’s successful career.
Karen Demel’s son, Jerry Buss
Dr. Jerry Buss was an American entrepreneur and professional sports team owner who had a net worth of $700 million at the time of his death in 2013. Jerry Buss was born in Salt Lake City and raised in Kemmerer, Wyoming by a single mother at the height of the Great Depression.
One of his earliest memories was waiting on a bread line for food as a very young child. Hard work earned Jerry a scholarship to the University of Wyoming where he graduated in just 2.5 years. By the time Jerry turned 24, he had received an MS and Ph.D in chemistry from the University of Southern California. Jerry Buss earned his first fortune in the real estate business. He then earned a much larger fortune (and fame) as the owner of the Los Angeles Lakers basketball team.
He was also at one time the owner of the Los Angeles Sparks (WNBA), the Los Angeles Kings (NHL), and the Los Angeles Lazers (soccer).In case you were thinking that Jerry Buss’ net worth would be much higher, perhaps in the billions, here’s why that is not the case: At the time of his death Jerry’s death in 2013 the Lakers were worth $900 million – $1 billion. Jerry did not own 100% of the team.
He owned 66%. After school, he worked as a chemist and briefly in the aerospace industry before returning to USC as a faculty member in the chemistry department. While working at USC, Jerry began investing in real estate around Los Angeles to earn extra income to supplement his teacher’s salary. Jerry was soon earning so much money from his side business that he gave up teaching altogether to focus entirely on real estate. With time Jerry Buss would become a very wealthy man.
By 1979 Jerry had earned enough money to purchase The Lakers, The Kings, and The Forum sports arena. He purchased all three for a total of $67.5 million. That’s the inflation-adjusted equivalent of $213 million today. At the time it was the largest sports team purchase in history.
Within a year The Lakers had won their first of ten NBA championships under Jerry’s leadership. At the time of his death in 2013, The Lakers were worth $1 billion. They were one of the first professional teams to achieve a billion-dollar valuation. Buss was also a talented poker player who competed professionally. On February 18, 2013, Dr. Jerry Buss died at a Los Angeles hospital after a prolonged battle with cancer. He is survived by six children who are all closely involved in The Lakers organization.
